IoT Managed Services Market by Services (Security Management Services, Network Management Services, Infrastructure Management Services, Device Management Services, Data Management Services)
Industry: IT and Telecommunication
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 190
Report ID: PMRREP19531
As of 2022, demand for IoT Managed Services Market is valued at US$ 89.5 Billion and is anticipated to have sales of US$ 265.3 Billion by 2033. IoT managed services market is estimated to be US$ 97.5 Billion in 2023 and is anticipated to progress at a CAGR of 10.5% and as of 2023.
The Internet of Things (IoT) is a network of physical devices and objects incorporated with software, sensors, and connectivity that allow them to communicate with one another and other systems via the internet. The IoT-managed services market held nearly 20% market share of the internet of things (IoT) market.
These devices can be anything from smart thermostats and wearables to industrial machines and autonomous vehicles. The data collected from these devices can be analyzed to gain insights into how they are being used and how they can be improved, leading to increased efficiency, productivity, and cost savings.
The potential applications of IoT are vast and include everything from smart homes and cities to precision agriculture and healthcare. IoT is often considered a key enabler of the Fourth Industrial Revolution, or Industry 4.0, which aims to revolutionize manufacturing and supply chain management with advanced digital technologies.
Application of IoT technology can be used to control and automate various household appliances and systems, such as lighting, heating, air conditioning, security systems, and entertainment systems.
North America held a major market share of 18.4% in 2022 and is projected to dominate the forecast period and demand for the IoT managed services market value share of 29.1% in Europe held the global market in 2022.
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IoT Managed Services Market Size (2022) |
US$ 89.5 Billion |
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Projected Market Value (2033) |
US$ 265.3 Billion |
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Global Market Growth Rate (2023 to 2033) |
10.5% |
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Network Management Services Market Share (2022) |
24.7% |
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United States Market Share (2022) |
14.2% |
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Manufacturing application Market Share (2022) |
12.6% |
“Increasing adoption of IoT devices in various industries,”
The internet of things (IOT) managed services market is driven by several factors, including increasing adoption of IOT devices need for cost-effective solution, growing demand for cloud-based services, increasing focus on data analytics and need for enhanced security
“The Growing Adoption of IoT Devices Driving Demand for IoT Managed Services in United States Market”
The increasing adoption of IoT devices in various industries, such as healthcare, transportation, manufacturing, and retail, is creating a need for managed services to ensure the devices are properly configured, monitored, and maintained.
IoT networks can be complex, involving multiple devices, protocols, and data sources. Managing these networks requires specialized skills and tools that many organizations do not possess. As a result, they are turning to managed service providers to help them manage their IoT infrastructure.
Overall, the IoT managed services market in the United States is being driven by the need for specialized skills and expertise, cost optimization, and security concerns, among other factors. In a survey conducted by Microsoft, 94% of United States businesses reported that they had already invested in IoT technology.
Due to these reasons, in 2022, the United States IoT managed services market companies helped the country to account for a dominant share of 14.2% in the global marketplace.
“India has high CAGR for IoT Managed Services Market”
The IoT market in India is growing rapidly, driven by increasing digitization and the adoption of smart technologies across various industries.
Several factors are contributing to the growth of the IoT market in India, including the government's Digital India initiative, increasing internet penetration, and the adoption of 5G technology. Industries such as manufacturing, healthcare, agriculture, and transportation are some of the major sectors driving IoT adoption in the country.
The IoT market in India is expected to grow rapidly in the coming years, with the government and businesses investing in the development of IoT infrastructure and technologies to support the growing demand for connected devices and smart technologies.
The CAGR for India's adoption of IoT managed services markets is predicted to be around 8.6%.
“Germany Holds a High Global Market Share in Europe Region”
The IoT (Internet of Things) market in Germany is one of the largest and most developed in the world. Germany has a strong manufacturing industry, and Industry 4.0, the fourth industrial revolution, is a major driver of the IoT market in the country.
Industry 4.0 aims to integrate advanced technologies, such as IoT, artificial intelligence, and big data, into the manufacturing process to improve efficiency, reduce costs, and increase productivity.
The automotive industry is also a major player in the German IoT market, with companies such as BMW, Volkswagen, and Daimler investing heavily in IoT technology for connected cars and smart factories.
The healthcare industry is another growing sector in the German IoT market, with applications such as remote patient monitoring and digital health solutions gaining popularity.
Due to this reason, the IoT managed services market for Germany in 2022 held a market share of 9.4% in the global IoT managed services market.
Which is the Most Utilized Services in IoT Managed Services Market?
“Network Management Services is the Most Required Services”
Network management is an important aspect of the Internet of Things (IoT) as it involves the coordination, administration, and optimization of various devices, protocols, and communication channels in an IoT ecosystem.
Network management services in IoT can help ensure the smooth functioning of IoT systems, prevent network failures and downtime, and improve the overall performance of IoT devices and applications.
Network management services are essential for ensuring the efficient and secure functioning of IoT systems. By effectively managing the network and devices, organizations can unlock the full potential of IoT and drive innovation and growth
Due to this reason the network management services market share was estimated to dominate the global market and account for 24.7% of the total market value share.
Which Application of the IoT Managed Services Dominates the Market?
“IoT Managed Services Improve Various Processes in the Manufacturing Vertical”
The IoT-managed services market for manufacturing applications is rapidly expanding, as manufacturers seek to leverage the benefits of IoT to optimize their operations and gain a competitive edge. IoT-managed services are providing manufacturers with end-to-end solutions that help them monitor, manage, and optimize their manufacturing processes in real-time.
These solutions are enabling manufacturers to improve their equipment efficiency, reduce downtime, minimize waste, and optimize their supply chain. Additionally, IoT-managed services are helping manufacturers reduce their energy consumption, lower their energy bills, and improve their sustainability.
With the continued growth of the IoT-managed services market, we can expect to see more innovative solutions that help manufacturers achieve their business goals and improve their bottom line.
In 2022 the manufacturing market share was estimated to dominate the global market and account for 12.6% of the total market value share.
The strategy of IoT Managed Services companies is to provide end-to-end solutions that enable clients to manage and maintain their IoT devices and networks with ease, while ensuring the security and reliability of their systems and comprehensive IoT platform, Customized solutions and Scalability.
Recent developments related to key players providing the IoT-managed services market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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In 2022, demand for the IoT managed services market amounted to US$ 89.5 Bn.
The global IoT managed services market is estimated to grow at a CAGR of 10.5% over the forecast period.
The market for IoT managed services market is forecasted to have a market value of US$ 265.3 Bn by 2033.
Demand for the IoT managed services market in India is projected to rise at 8.6% CAGR over the forecast period.
In 2022, North America IoT managed services market held a dominant market share of 18.4%.
